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The recent market decline has made it difficult for Shiba Inu to regain its bullish momentum. Technical indicators, however, point to the possibility of a golden cross formation developing earlier than anticipated, which could support a robust recovery for SHIB despite the uncertainty.
Data shows the Dogecoin Open Interest has seen a large drop recently. Here's how the trend has compared for Shiba Inu and other memecoins.
Shiba Inu dips to $0.00001514, but traders target $0.000078 by summer, while Panshibi sparks meme coin speculation. #partnercontent
Shiba Inu (SHIB) has shown signs of potential recovery despite facing hurdles, with the price hovering around $0.00001534 at press time. However, for a sustainable rally, Shiba Inu must tackle a significant challenge: the decrease in transaction count and its broader impact on demand.
Dog-themed cryptocurrency Shiba Inu recently experienced a remarkable surge in its burn rate, a strategy aimed at lowering SHIB's total supply while potentially increasing long-term value. However, after a period of increase, Shiba Inu's burn rate has now taken a breather, settling at just 1.97% in the last 24 hours.
Dog-themed cryptocurrency Shiba Inu (SHIB) has been trading down in the last 24 hours; at the time of writing, SHIB was down 0.21% daily to $0.00001538. Weekly, Shiba Inu was recording higher losses, down nearly 7%.
The number of Shiba Inu trillionaires is decreasing in rapid fashion, which could be a signal for the rest of SHIB holders. The on-chain data is certainly not positive, and as large holders decrease their SHIB holdings, the market might see continuous selling pressure.
Shiba Inu could be poised for an uptrend if current level holds but transactions count create a major obstacle.
Shiba Inu (SHIB) - once one of the leading meme coins - is currently stagnating and has been moving in a downward trend for several months in a row. Against this backdrop, the token's popularity is rapidly declining.
Shibarium, the Ethereum-based layer-2 scaling solution for the Shiba Inu ecosystem, has suffered decreased activity in the past couple of days. Daily transactions being processed on the protocol plummeted from 4.77 million on Feb. 14 to just 54,640 on Feb. 17.
Most of the coins are coming back to the green zone after a bearish market opening.
Major news just broke out regarding the U.S. wing of the world's largest cryptocurrency exchange, Binance. In the last couple of years, the activity of Binance US, and the black-and-yellow exchange broadly, has been significantly shredded due to regulation and law enforcement implemented by the previous SEC administration.
A new study sheds light on the common phenomenon of cryptocurrency tokens experiencing sharp price declines after achieving all-time highs. The research identifies key factors contributing to both the rise and subsequent fall of popular digital assets like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE).
Shiba Inu Price faces mounting pressure as market corrections continue to impact its performance. The popular meme-based coin has experienced volatility over the past month.
Despite the lack of action on the cryptocurrency market lately, there is still a lot going on behind the scenes of the price charts, especially in the on-chain realm.
The pseudonymous marketing lead of the Shiba Inu team, famous on social media as Lucie, has taken to the X network (formerly popular as Twitter), to issue a crucial message to the SHIB army and assure them that SHIB and all other Shibarium tokens are likely to have a bright future.
Open interest in meme coin futures has significantly decreased as prices have dropped, sparking a debate about the sector's future. What Happened: In a post on X on Feb 19, Glassnode data shows the decrease, with Dogecoin (CRYPTO: DOGE) open interest down by 58.45%, falling from $3.58 billion on Dec. 9, 2024 to $1.49 billion recently.
The meme coins have noted massive volatile trading lately amid a broader crypto market downturn. Notably, top players in the segment like DOGE, PEPE, SHIB, FLOKI, and others have also gone through a topsy-turvy lately, sparking market concerns.
Shiba Inu, once a leading meme coin, is currently facing a prolonged downtrend. The price has continued to struggle with recovery, and the lack of upward momentum is causing concern among both current holders and potential investors.
Prominent blockchain tracker Shibburn has revealed an impressive rise shown by the SHIB burn rate over the last day. A large amount of meme coins were burned to reached it.
Shiba Inu has finally reached a level that might become a foundation for a proper price reversal. Following the death cross, the price action suggests that SHIB could be around the bottom.
Shiba Inu (CRYPTO: SHIB) has exhibited a lackluster price action over the last month, but a few crucial technical indicators tied to the dog-themed cryptocurrency signaled a rebound. What happened: The world's second-largest meme coin by market capitalization was in the middle of a corrective phase, falling over 3% over the week and around 25% in a month.
Shiba Inu started 2021 at just $0.0000000001; SHIB surged to an all-time high of $0.00008845 by October 2021. This marked an astonishing 52,500,000% increase. Those who spent $1,000 in SHIB at the beginning of 2021 would have been able to buy around 5.9 billion tokens.
Shiba Inu (SHIB) hasn't returned to normal after weeks of losses. Despite intermittent rallies, the asset is under selling pressure, and technical signs suggest a likely further decline. Does SHIB plan to correct or reverse? Analysts say three major caution signs indicate that it is not currently a good buy.
